Oil prices could surge to $150 per barrel if the ongoing conflict in the Middle East escalates further, Qatar’s Energy Minister Saad al-Kaabi has warned.
In an interview with the Financial Times, al-Kaabi cautioned that a widening war in the region could severely disrupt global energy supplies, with Gulf exporters potentially forced to halt production within weeks.
He said such a scenario could trigger a sharp spike in global oil prices and have a major impact on the world economy.
Al-Kaabi also warned that even if hostilities ended quickly, it could take weeks or months for energy production and supply chains in the region to return to normal levels. (Newswire)